9,659.48 TRY BIST 100 BIST 100
37.83 USD USD USD
5.24 CNY CNY CNY
40.78 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
46.25 TRY Interest Interest
74.48 USD Fossil Oil Fossil Oil
33.77 USD Silver Silver
5.04 USD Copper Copper
102.21 USD Iron Ore Iron Ore
356.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,803.99 TRY Gold (gr) Gold (gr)

US and EU fail to reach agreement on free trade in steel and aluminium

The European Commission's visit to the US did not result in the signing of an agreement on trade in steel and aluminium products.

US and EU fail to reach agreement on free trade in steel and aluminium

Contrary to the expectations of European industrialists, the visit to the US by European Commission President Ursula von der Leyen and European Council President Charles Michel did not result in the signing of an agreement on trade in steel and aluminium products.

It was assumed that this agreement would give European metallurgical companies relatively free access to the American market. At the same time, US and EU steel producers were supposed to join forces in the fight against overcapacity in the global steel industry and to reduce carbon dioxide emissions.

The US demand for the immediate introduction of protective tariffs on Chinese steel products in the EU proved to be an obstacle. European representatives said that such things could only be done legally under WTO rules after a year-long investigation.

The parties said they would continue negotiations. If they fail to reach an agreement by the end of 2023, tariffs of 25% and 10% respectively on imports of European steel and aluminium products into the US will be reintroduced.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Angang Steel suffers USD 1 billion loss amid crisis in China's steel market

Wednesday, April 2, 2025

Türkiye's rebar exports increased by 18.4% in February

Wednesday, April 2, 2025

Uncertainty over US-China trade forces market participants to act cautiously

Wednesday, April 2, 2025

Fagersta Stainless increases production capacity with Danieli technologies

Wednesday, April 2, 2025

ERDEMİR published its integrated annual report for 2024

Wednesday, April 2, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now